Pakistan’s cement sales declined by 16.82 percent in November 2022 as total cement sales during the month were recorded at 4.009 million tons against 4.820 million tons during the same month of the last fiscal year.
According to the data released by the All Pakistan Cement Manufacturers Association (APCMA), local cement sales during November were 3.862 million tons compared to 4.125 million tons in the same month of the previous year, showing a decline of 6.38 percent. Exports also declined by 78.76 percent as the volumes reduced from 695,779 tons in November 2021 to 147,757 tons in November 2022.
In November 2022, north-based cement mills sold 3.267 million tons of cement showing a decline of 7.31 percent against 3.525 million tons sold in November 2021. South-based mills sold 742,158 tons of cement during the month which was 42.71 percent less compared to the sales of 1.296 million tons in November 2021.
North-based cement mills sold 3.163 million tons of cement in domestic markets in November 2022 showing a decline of 8.83 percent against 3.47 million tons sold in November 2021.
South-based mills sold 698,225 tons of cement in local markets during November 2022 which was 6.60 percent more compared to the sales of 654,983 tons in November 2021.
Exports from north-based mills increased by 87.97 percent as the quantities increased from 55,234 tons in November 2021 to 103,824 tons in November 2022. Exports from the south reduced by 93.14 percent to 43,933 tons in November 2022 from 640,545 tons during the same month last year.
During the first five months of the current fiscal year, total cement sales (domestic and exports) were recorded at 17.883 million tons, which is 21.78 percent lower than 22.861 million tons during the corresponding period last year.
A spokesman of the All Pakistan Cement Manufacturers Association delivered ominous signals to authorities if the situation was dealt with on high priority.
He said the central bank should open pending letters of credit for renewable energy projects in order to curb costs and shift away from imported fuel. In addition to safeguarding political stability, the government must accelerate development in order to boost output in 40 construction-related industries supporting the country.
Yeah, oddly missing is how much profit margins have increased during this time period. Maybe the cement manufactures should start reducing prices to reinvigorate the industry.